In Germany, around 200 billion euros are invested every year in knowledge-based capital, which encompasses assets such as research and development, software and databases, organizational capital, marketing and advertising, and technical design. Yet investments in traditional capital (such as machinery and non-residential buildings) still significantly outweigh knowledge investments, standing at over ...
First study using official company records — more knowledge-based capital increases productivity — some sectors are already investing more in knowledge-based capital than in machines and buildings — economic policy must take a holistic approach towards investments Every year in Germany, around 200 billion euros are invested in knowledge-based capital, such as research and development ...
The wage curve introduced by Blanchflower and Oswald (1990, 1994b) postulates a negative correlation between wages and unemployment. Empirical studies use different channels for a theoretical underpinning the relationship. Panel data models mostly draw on bargaining power or the efficiency wage hypothesis. Spatial econometric approaches can be rationalized by monopsonistic competition. However, the ...
